Anglo Finds Returns Outweigh Risks as It Renews Africa Focus
- Mining giant investing in exploration, extending life of mines
- South African operations are Anglo’s top cash generators
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Anglo American Plc is going where larger rivals fear to tread, returning to its African roots to tap mineral assets with compelling returns.
The storied mining company, founded by Ernest Oppenheimer in Johannesburg a century ago, is devoting a third of its exploration budget to the continent, including searching for copper and cobalt in Angola and Zambia. In South Africa, it’s investing in platinum, diamond and iron-ore mines that are spitting out cash.